MUMBAI: Imports of rubber in India, the world’s second-biggest consumer, provisionally rose 11.97 percent on year to 20,127 tonnes in July as tyre makers cashed in on lower customs duties, the state-run Rubber Board said in a statement.
Rubber imports rose 10.4 percent in April-July to 62,056 tonnes. Shipments are expected to touch a record of 200,000 this fiscal year. India, the world’s fourth biggest producer, imports natural rubber from Thailand, Indonesia, Malaysia and Vietnam.
The federal government had allowed imports with a duty of 20 percent or 20 rupees a kilogram (kg), whichever is lower, for the current financial year, effectively cutting the import duty.
Consumption rose 4.8 percent to 323,875 tonnes in the first four months of the fiscal year, while production also rose 5.8 percent 238,400 tonnes, the board said.
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